It would give you no quicker release of the clutch than if you slipped your foot off the side or bottom of the pedal and dumped it.
my understanding of launch control is that you hold the botton down, rev the engine (the launch control holds the revs at a suitable launch RPM i.e. 3500), you dump the clutch when you want to go, you get minimum wheel spin and as you think you are at optimum traction you then release the launch control allowing the engine to rev to it's normal RPM limit.
Cheers
Alex